March 23, 2020 / 7:19 AM / 15 days ago

Turkey's Ziraat Bank will allow delay of loan payments

ISTANBUL, March 23 (Reuters) - Turkey’s Ziraat Bank said on Monday it will allow all individual and corporate clients to postpone interest and principal payments due on March 31 as it moved to curb the economic impact of the coronavirus outbreak.

The state bank said it will allow re-structuring of loans with up to 12 months of additional time for sectors such as hard-hit tourism, as well as up to a six-month non-payment period.

Ziraat also said it will increase the limits of clients who pay wages through the bank by the amount equal to three months of employee wages, as long as the companies do not decrease their employment from end-February levels. (Reporting by Ali Kucukgocmen; Editing by Jonathan Spicer)

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